LG is targeting the mid-tier smartphone market with new phones that debuted at Mobile World Congress in Barcelona.

The Magna has a 5-inch 1280x720 pixel screen and 1 gig of RAM. It runs an unspecified 1.2 or 1.3 gigahertz quad core processor and has an 8 megapiel rear camera and 5 megapixel front facing one.

All of the new models are based on Android Lollipop and have LTE.

The phones will roll out globally this week, but pricing wasn't announced. If the Magna's price is $250 or less it could bring some stiff competition to the mid-tier market. With the exception of the high-resolution camera on the back, the specification mimics what you get when you buy the second generation Moto G, which Motorola launched last year.

A strategy of targeting emerging markets like Asia Pacific, Latin America, the Middle East and Africa where smartphone penetration is less than 40 percent could work out well for LG. Those markets are expected to experience double digit percentage growth over the next few years, outpacing the saturated North America and European markets according to eMarketer.